The upgrade is scheduled to take place on June 20

BNB Smart Chain team will conduct a Haber hardfork to reduce transaction fees by 90%

18.06.2024 - 15:25

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2 min

What’s new? The team of the BNB Smart Chain (BSC) blockchain from the leading centralized crypto exchange (CEX) Binance will implement an improvement numbered BEP 336, similar to EIP 4844 on the Ethereum network. EIP 4844 was activated as part of the Dencun hardfork in March and reduced transaction fees on Layer 2 (L2) networks by 60-90% using proto-danksharding. It scales the blockchain and reduces the cost of gas by introducing a new mechanism for storing compressed large sets of binary data (blobs).

Press release

What else is known? BNB Chain’s BEP 336 will be activated as part of the Haber hardfork scheduled for June 20. This upgrade will optimize data storage and processing on the blockchain. As with Dencun from the Ethereum team, it will improve network performance and reduce transaction costs by up to 90%.

The BEP 336 improvement will introduce transactions into the network using blobs, which will simplify the transaction validation process.

A blob is a temporary and low-cost memory segment capable of storing large amounts of data, each up to 128 KB in size. Instead of individually validating each transaction within a blockchain, the network will only need to validate the data in the attached blob.

Unlike Ethereum, blobs in BSC are managed exclusively by the blockchain client. The upgrade will also implement a dynamic gas pricing mechanism for blobs. Unlike the fee-burning mechanism in Ethereum, BSC does not burn the underlying fee associated with blobs.

The upgrade will also have a significant impact on BNB Greenfield. Greenfield extends decentralized data storage and management capabilities with BlobHub. This is an archiving layer that optimizes large-scale data storage for L2 networks and decentralized applications (Dapps).

The temporary storage mechanism ensures that the blockchain remains compact and uncluttered, which will improve performance. This processing strategy helps maintain data integrity and availability without taking up unlimited network space.

By reducing costs and increasing efficiency, BEP 336 will make the ecosystem more accessible to a wider audience of developers and users. It will also positively impact L2 networks such as opBNB.

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